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Warren Buffett: We Don’t Need More Stimulus

Warren Buffett was on CNBC's Squawk Box this morning for an extended interview with Becky Quick. The "Oracle of Omaha" discussed a wide range of issues, including inflation, unemployment and the economic recovery.

Here are some of the highlights:

Buffett on stimulus:

Buffett doesn't think another round of quantitative easing -- as some Fed watchers have discussed -- is necessary, saying we've already had "massive" government stimulus. If unchecked, Buffet worries that the U.S. is "following policies that will lead to lots of inflation down the road."

Buffett on the recovery:

Bufett is still bullish on America in the long run, but concedes the economy is "inching along" not "chugging along," at this point in the recovery. He noted Berkshire's railroad business, led by Burlington Northern Santa Fe, is only about 60% back from the bottom.

Buffett on employment:

Berkshire only added about 3,000 jobs last year. Buffett does however predict more job creation. He says the unemployment percentage will be in the "low 7s" by the 2012 election.